The Department of Finance (DOF) said the full implementation of an international merchandise passport would help Filipino businesses showcase their products globally and make it easier for them to do business in foreign markets.
As part of the DOF's efforts to improve the ease of doing business in the Philippines, Finance Undersecretary Charlito Martin R. Mendoza said they are promoting the use of the ATA Carnet.
Mendoza said this international customs document acts like a passport for merchandise, allowing duty- and tax-free clearance at various customs checkpoints.
The ATA Carnet is recognized by a network of 81 customs administrations around the world.
“With this system, we now offer them [Filipino businesses] cost-effective access to international trade exhibitions that would have otherwise been prohibitive for them to attend in the past,” Mendoza said.
“This will increase export and import activities, enhance our trade balance, drive job creation, and attract foreign investments,” he added.
Mendoza said using ATA Carnets can benefit various industries that involve temporary importation, such as those using commercial samples, professional equipment, and goods for display at exhibitions, fairs, and meetings.
Small and medium enterprises (SMEs) can especially benefit from accessing foreign markets through ATA Carnets as it allows them to participate in trade shows and sell their products on the spot.
ATA Carnets also help in reducing the costs of exporting goods and make customs procedures more efficient by simplifying them with a single document for all customs transactions.
Additionally, they allow for advance arrangements for entry into many countries at a predetermined cost.
Another advantage is that the merchandise passport facilitates the re-entry of the product to any contracting country, eliminating the need to register goods with the contracting country at the time of departure.
This system ensures that the Bureau of Customs (BOC) can collect duties and taxes if goods are not re-exported within the stipulated time frame.
“We will leverage technology to streamline customs processes, enhance tracking and compliance, and ensure its seamless integration,” Mendoza said.